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Estate plan review time

On Behalf of | Nov 28, 2018 | estate administration & probate |

If you are like most people in Indiana, the holiday season can feel very all-encompassing and even distract you from other important things you need to take care of. As December moves closer to the end of the year, however, your attention may well turn to the new year and what you want to do to get it started well. One of the activities you should put on your New Year’s list is to review your estate plan. 

As explained by Fidelity Investments, even the best and most thorough estate plan can be in need of updating now and then. This is because your life and the lives of your beneficiaries are very dynamic and subject to change. If you have moved and bought and sold a home, you may need to revise a trust if your old home was part of that. The birth, adoption or death of a family member may also necessitate amendments to a trust or a will.

Your own life might be stable but if one of your adult children got married, divorced or remarried, you might want to update your long-term plan to reflect the changes in the people involved in your life so that a former son-in-law does not inherit something you ultimately wanted to go to your daughter, for example. 

If you would like to learn more about how to ensure that your estate plan stays up-to-date and accurately reflects your current life situation and needs, please feel free to visit the future asset protection and preparation page of our Indiana estate planning website.